Despite the coronavirus pandemic which significantly affected businesses across the globe, including Pakistan, 61% of entrepreneurs in the country say that they are enjoying good business conditions, a recent survey showed.
Conducted by Gallup Pakistan, in collaboration with Jang-Geo News Polls, the survey showed that 39% of entrepreneurs are suffering from bad conditions when asked about the current situation of their businesses.
The survey was carried out for the fourth quarter of Gallup’s Business Confidence Index. About 400 businesses took part in the survey from across the country.
A sector-wise breakdown among those who said that their businesses are enjoying favourable conditions shows that 68% belonged to the manufacturing industry, 58% to the services industry, while 52% were associated with the trade industry.
Future of businesses
When asked whether business conditions are expected to improve in future, 72% demonstrated a positive outlook, while about 28% of the respondents said they are not very hopeful of the situation improving in future. The net score of hopes regarding future business improvement has decreased from 58% in the second quarter to 44%, the survey said.
Out of the 72% of businesspersons who said that they are optimistic of a better future, 72% belongs to the manufacturing sector, 73% are associated with the services sector, while 84% belong to the trade industry.
Direction of the country
When asked if the country is moving in the right direction, 53% of the respondents replied positively. Meanwhile, 47% said that the country, according to them, is not moving in the right direction.
A province-wise distribution of the respondents who said that they think the country is moving in the right direction, 72% belonged to Sindh, 50% belonged to Balochistan, another 50% belonged to Khyber Pakhtunkhwa, while 48% hailed from Punjab.